Blog Posts
Child and Dependent Care Credit
Concise Takeaway The Child and Dependent Care Credit is a nonrefundable credit for work‑related care expenses paid for a qualifying person so the taxpayer (and spouse, if married) can work or look for work. The maximum expenses allowed are $3,000 for one qualifying...
Rental Property Tax Rules
Rental real estate income is generally reported on Schedule E, unless the taxpayer provides...
Reconciling Book vs. Tax Income
Businesses often report different income for financial accounting and tax purposes. Financial...
Affordable Care Act (ACA) Rules for Employers
The Affordable Care Act (ACA) requires certain employers to offer health insurance to full‑time...
Loss Limitations for Individuals
Losses from trades or businesses—including pass‑through losses from partnerships and S...
Business Tax Credits
Many federal business credits are grouped into the general business credit and claimed on Form...
Business Expenses and Deductions
Section 162 allows deductions for ordinary and necessary business expenses paid or incurred during...
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